Binance coin (BNB) reached its peak this week. This peak, though in Bitcoin value of 0.002287 BTC, reveals something profound. It reveals how coins created by exchanges grow even in the bear market.
And BNB — the Binance coin — has fared very well. That is why we thought we will write a quick post to share some of the useful use-cases around the BNB token. In this post, you will see the advantage of the Binance coins (or BNB token), and see why a lot of investors are holding them:
3 Reasons why Binance coins (BNB) are useful:
1. When BNB was first accounced, its use-case was to simply reduce the trading fee on the Binance exchange platform. Even to this date, you will save 50% of the trading fees if you hold and use BNB tokens when you are trading coins.
2. BNB is going to be used as a gas for transaction. This will be supported immediately after the launch of the Binance’s decentralized exchange. It will impact the coin positively as Binance has been spending millions of dollars in building a decentralized exchange. (Source: Binance facts)
3. Binance has a launchpad listing potential blockchain projects. Here, to buy the tokens / coins of these projects, you will have to purchase the BNB tokens and then complete your order.
From the investor’s perspective, you will also see Binance burning its tokens, thereby increasing the price of each BNB in the future. And then, as with time, Binance’s BNB coin will mature to offer newer possibilities and solutions.
All these are healthy signs of the valuable coin. And we thought it would be worth highlighting it in this short and quick post.